Having personally been through the process of purchasing a home and having helped clients close their sales, there are a few important things that the new homeowner needs to be aware of when choosing their real estate attorney.
Top 5 Reasons to Make Sure Your Attorney Is a Well-Versed Real Estate Attorney:
- BEWARE OF GENERAL PRACTICE ATTORNEYS WITH NO OR LITTLE EXPERIENCE WITH REAL ESTATE TRANSACTIONS: Not every attorney is familiar with the practice of real estate law. Most believe that is simply a matter of reviewing a contract, but any experienced real estate attorney will tell you it’s much more than that.
- DON’T CHEAPEN UP WHEN CHOOSING A REAL ESTATE ATTORNEY. IT’S NOT CHEAP TO BUY A HOME; WHY WOULD ANYONE RISK IT?: You are making one of the most expensive purchases of your life and you want to save a few hundred bucks when it comes to hiring an experienced real estate attorney. Like anything else, protect your investment and purchases with those that know what they doing. Amateur results usually related to cheap and poor lawyers.
- DON’T LISTEN TO YOUR REAL ESTATE AGENT/BROKER OR MORTGAGE BROKER TO MAKE YOUR DECISIONS: Real Estate agents/brokers and mortgage brokers want nothing more than to close on your purchase so they can make their commission. There is nothing wrong with that, but keep in mind that their interest does not necessarily have to align with yours. Seek independent counsel by hiring an experienced real estate attorney not necessarily one they recommend.
- ASK EVERYTHING YOU WANT TO ASK BEFORE YOU SIGN THE CONTRACT WITH AN ATTORNEY WHO WILL REVIEW IT WITH YOU: Don’t just sign a document because some know it all attorney tells you to. Sit down with them, have them review the contract, its terms, and what is and isn’t included with you. If you aren’t getting the attention in the beginning don’t expect to any attention after when issues arise!
- TAKE YOUR TIME AND MAKE SURE ALL ISSUES ARE RESOLVED PRIOR TO CLOSING: Issues commonly arise and you need an attorney who will know how to amply protect you and your purchase. Don’t allow your attorney to push you into a bad deal- make sure he/she protects your interests as if he/she was purchasing their own home!